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News Roundup

This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.


Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.


Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.


To join our newsletter community please subscribe here.

FintechNews Roundup
·Nov. 29, 2016

Capgemini Releases Report on Fintech

Capgemini's "World Fintech Report" provides insight on fintech and its current collision with traditional financial service providers; report says that fintech is both overhyped and underestimated; Capgemini points out the success of fintech while noting the industry's small percentage of business versus traditional firms; provides details on how fintech firms are partnering with traditional firms and how fintech is evolving to become a more significant part of traditional firms; highlights the growth potential ahead for the fintech industry; notes how traditional firms are approaching fintech partnerships and investment; says 59.2% of traditional finance firms are developing their own in-house capabilities and 60% are establishing partnerships with innovative fintech firms.  Source

 

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EuropeNews RoundupOnline Lending
·Mar. 28, 2017

Nucleus Commercial Finance Planning to Ramp Up Lending

Nucleus Commercial Finance has lent over 500 million British pounds ($624 million) to small and medium enterprises (SMEs) and is planning to ramp up lending in 2017; firm's lending products include asset finance, construction finance, invoice finance and cash flow finance and they are planning to add new products as well as hire three new people for its asset-based lending team; the platform's lending has increased 100% since April 2016 and it is targeting 1 billion British pounds ($1.25 billion) in loans to SMEs in the next 12 months.  Source

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FintechNews Roundup
·Mar. 4, 2019

Announcements & Releases for March 4, 2019

Bank Holding Companies with the Largest Credit Card Loan Portfolios China: WeiyangX...
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EuropeNews RoundupOnline Lending
·Jan. 25, 2017

Funding Circle Exits Spain, Reinvests in Europe

Upon their acquisition of Zencap, Funding Circle took up operations in Germany, the Netherlands and Spain, though now you can remove Spain from that list; according to Ryan Weeks of AltFi, this was due in large part to a low quality pool of borrowers and limited understanding in Spain of P2P lending; in terms of their loan book this was only a fraction of global originations for Funding Circle; they will now be able to allocate more resources to Germany and the Netherlands where they are looking to increase their market share.  Source

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FintechNews Roundup
·Sep. 26, 2017

China Construction Bank to Launch Blockchain Product

Considered part of the 'Big Four' banks in China, the China Construction Bank (CCB) is looking to launch a banking and insurance blockchain product; their hoping to use their new bancassurance product in Q3 to sell third-party insurance products on the distributed ledger as CoinDesk reports; they are using the IBM blockchain and have been testing the products for months. Source.

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EuropeFintechNews Roundup
·Aug. 23, 2017

Shares of UK Subprime Lender Provident Fall 70% after Profit Warning

The company is estimating a full year loss and its CEO has resigned; it is also being investigated by the FCA and cutting its dividend; the surprise estimates and regulatory investigation are key factors influencing the stock market losses; the company serves 2.4 million customers through a door to door lending process with a focus on the underbanked. Source

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EuropeFintechNews Roundup
·Oct. 20, 2017

Fintech Helping to Redefine Banking Services

Author and fintech expert Chris Skinner discusses the impact of fintech companies on banking services; the idea of free banking will essentially be gone as fintech companies are able to focus on transactional services the banks once dominated; he calls this the democratization of finance and it will help to bring more transparency to banking overall. Source.

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FintechNews RoundupUSA
·Apr. 2, 2019

Blend Announces New Product to Streamline Mortgage Process

Blend is on a mission to expand into more banks and credit...
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News RoundupOnline LendingUSA
·Feb. 2, 2017

Lending Club Case Will Proceed through Arbitration

A federal district court in the Southern District of New York has ordered the Bethune v. Lending Club Corporation, et al. case to proceed to arbitration; plaintiffs argue that Lending Club loans were in violation of state usury laws despite their association with WebBank; while the case is still pending, the court has said it will be decided through arbitration due to clauses in place by Lending Club.  Source

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News RoundupOnline LendingUSA
·Apr. 17, 2017

Fifth Third Bank Expands Partnership with Accion for Small Business Lending

Fifth Third Bank will expand its partnership with Accion US Network which provides access to a network of small businesses; the initiative will focus on increased lending for underserved small businesses in Florida, Indiana, Illinois, Michigan and Ohio; the effort is also an extension of the bank's five-year, $30 billion Community Commitment and will utilize $10 billion allocated to small business lending, product innovation and enhanced underwriting and fulfillment for this alternative lending channel. Source

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